Wedbush Comments on LGI Homes' FY2024 Earnings (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH - Free Report) - Analysts at Wedbush upped their FY2024 earnings estimates for shares of LGI Homes in a note issued to investors on Tuesday, November 5th. Wedbush analyst J. Mccanless now expects that the financial services provider will earn $9.02 per share for the year, up from their previous estimate of $8.59. Wedbush has a "Neutral" rating and a $125.00 price objective on the stock. The consensus estimate for LGI Homes' current full-year earnings is $8.82 per share. Wedbush also issued estimates for LGI Homes' Q4 2024 earnings at $2.88 EPS, Q1 2025 earnings at $1.48 EPS, Q2 2025 earnings at $2.56 EPS, Q4 2025 earnings at $3.51 EPS and Q1 2026 earnings at $1.69 EPS.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.54 by $0.41. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The firm had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. During the same quarter in the previous year, the firm posted $2.84 earnings per share. The business's revenue was up 5.6% on a year-over-year basis.

LGI Homes Trading Down 0.5 %

NASDAQ:LGIH traded down $0.55 on Friday, reaching $109.12. 136,093 shares of the stock traded hands, compared to its average volume of 211,652. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.33 and a beta of 1.97. LGI Homes has a 1-year low of $84.00 and a 1-year high of $136.89. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The company's 50 day moving average is $110.53 and its 200-day moving average is $102.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. raised its holdings in LGI Homes by 32.5% in the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider's stock worth $39,000 after purchasing an additional 108 shares in the last quarter. Innealta Capital LLC bought a new stake in LGI Homes in the 2nd quarter worth approximately $39,000. Allspring Global Investments Holdings LLC purchased a new position in shares of LGI Homes in the 3rd quarter worth approximately $43,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in LGI Homes during the 1st quarter valued at $52,000. Finally, KBC Group NV lifted its holdings in shares of LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider's stock worth $87,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 84.89% of the company's stock.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.